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Medtech company Dräger Medical Systems will retain its North American headquarters in Andover after signing a 128,000-square-foot lease renewal with plans for a building improvement program in the next 18 months.

The company is based at 6 Tech Drive, which is owned by a partnership of Novaya Real Estate Ventures and Wheelock Street Capital.

Cushman & Wakefield and Newmark Knight Frank represented Drager and ownership respectively.

“This was a great win for all involved,” Shawn Hawthorne, vice president of Novaya, said in a statement.

“The proactivity and creativity allowed us to make a significant update to our building and our campus, which supports Tech Drive’s position as a market maker,” Hawthorne added. “The results of our renovations will be a new benchmark for the medical device world.”

Set on a 13-acre parcel, 6 Tech Drive was originally completed in 1984.